Bob Iger and Joshua Kushner Purchase Los Angeles Lakers for Record Sum

Bob Iger, Disney’s former chief executive officer, and venture capitalist Joshua Kushner have acquired the Los Angeles Lakers. They are buying the team from Mark Walter’s ownership group for a significant sum of $12.5 billion. This purchase marks a substantial increase from the $10 billion Walter spent less than a year ago when acquiring the team from the Buss family.

The transaction occurs amid a federal investigation into Mark Walter’s financial activities, specifically involving related-party transactions. These dealings, which involve transactions between entities with business or personal connections, require careful examination due to potential conflicts of interest.

Kushner, who founded the venture capital firm Thrive Capital, and Bob Iger, both enthusiastic NBA fans, expressed their excitement about their new role in the Lakers’ legacy. They stated, “As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world.”

In addition to this significant purchase, Bob Iger and his wife Willow Bay recently became controlling owners of Angel City Football Club. They have pledged $50 million to enhance the club’s financial position, pending approval from the National Women’s Soccer League. This investment reflects their commitment to bolstering the women’s soccer team and addressing its financial challenges.

These moves highlight Bob Iger’s continual involvement and investment in major sports franchises, signaling his dedication to shaping the cultural and business landscapes of these iconic teams.